Construction equipment rental and retail business Nixon Hire this week announced a joint venture agreement with Sheikh Hizam Zidan Al-Qahtani, chairman of Al Jeri Transportation Group to launch two equipment rental branches in Saudi Arabia. A branch in Jeddah will open immediately, with an additional location in Riyadh in the near future.
The parties have agreed to raise more than £12 million in new rental assets.
Nixon Hire opened its first Middle East depot in Doha, Qatar in 2009.
“We are incredibly pleased to be working with such a well-respected business and looking forward to a successful partnership,” said joint managing director Graham Nixon. “We have seen our customer base develop and grow very quickly and we are confident that this is a result of good quality equipment and excellent customer service provided by our team. As well as growth in rental activity, we have also seen a steady increase in used equipment sales.
“The Middle East is presenting many additional opportunities for Nixon Hire at the moment, most notably the infrastructure development associated with the 2022 World Cup. We have high hopes that this success will continue in our new locations and look forward to opening the doors on the new depots soon.”
Nixon Hire is based in Newcastle-upon-Tyne, U.K. It has more than 20 branches in the U.K.